This paper presents modification of the conventional model reference adaptive control (MRAC) architecture in order to achieve guaranteed transient performance both in the output and input signals of an uncertain system. The proposed modification is based on the tracking error feedback to the reference model. It is shown that approach guarantees tracking of a given command and the ideal control signal (one that would be designed if the system were known) not only asymptotically but also in transient by a proper selection of the error feedback gain. The method prevents generation of high frequency oscillations that are unavoidable in conventional MRAC systems for large adaptation rates. The provided design guideline makes it possible to track a reference command of any magnitude form any initial position without re-tuning. The benefits of the method are demonstrated in simulations.